Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 18.0%
- Listing ID: 678692
- Posted On: Jun 17, 2016
- Updated On: Mar 10, 2017
Description
16 lots with 13 units. one unit is being rehabbed and park is getting rent for 12 units now. there is room to add 3-4 more lots..park is on county water and septic....owner pays water. park is zoned c-3 or general commercial. this park is ugly but makes money...will net over 40k this year plus big upside. Owner wants offers but he's firm around $210k all cash.WILL NOT FINANCE SO DON'T ASK!
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 16 |
| Total Occupancy: | 90.0 % |
| Year Built: | 1985 |
| Average MH Lot Rent: | $500 |
| Size: | 2 acre(s) |
Financial Information
| Gross Income: | $66 |
| Operating Expense: | $13 |
| Net Operating Income: | $52 |
| Expense Ratio: | 19.7 % |
| Debt Info: | NONE |
Lot Information
| Singlewide Lots: | 12 |
| Doublewide Lots: | 2 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 12 |
| Average Rent for Park-owned Homes: | $450 |